All Forum Posts by: John Dennis

@Brian Coleman Did you ever find anything? I am looking for a cloud based solution for a 4 unit.

@Haley M. Did you ever find anything worth while? I am looking for a cloud based system for a 4 unit.

@Jonathan Stone will do. It's a 3 phased project and one unit has been occupied throughout. There were quite a few lessons learned and this required a lot more hands on supervision than normal.

@Jonathan Stone

I HODL'd and bought more.

I also purchased a 5 unit BRRR at the very end of 2021. It will hopefully be coming on the market to rent July 1st and should cash flow nicely. However, I don't want to count my chickens before they hatch.

Zack, that you for the feedback. That's pretty much what we have found. I think we are just going to sell at this point.

I am looking to refinance my primary residence. Our primary conventional we owe about 60% of the LTV. We have a HELOC for another 25%. So total our LTV is about 85%. I have reached out to at least 6 banks, some of which I have done business with before and no one can offer anything without us paying down the LTV to 75%( I want to keep more cash on hand) because they say this is considered a cash out refinance. Another tricky part would be a small portion of this would fall above the jumbo threshold. I would think I could package the primary and Heloc into one conforming loan up to the jumbo limit and then get a Heloc on the percentage above the jumbo limit? Does anyone have any recommendations?

@Chris Gawlik I understand your thought process and considered doing the same thing. However, when I started really diving into it, I decided to hold on to my strong cash flowing multi-families. These are long term holds and my equity paydown and cash flow will continue(even if its less than before). If I sell, I would have to weigh the realtor fees, closing costs on a new purchase to replace the asset, taxes on my current gains. In addition, I would be missing out on the cash and equity paydown of holding the property. It depends what variables you use but the market would really have to crash to make it worth it. Also these are long term investments... I wont realize gains or losses until I sell.

If the market really does crash it would likely be a result of significant inflation or mass defaults which would cause interest rates to rise. With really high inflation is your cash going to be worth as much? Will the RE losses in price offset a diminished dollar? Are the capital requirements after a crash going to change? I don't know the answer to any of those questions.

Personally, I'm sticking with cash flow(holding reserves as well) and... this one may discredit me... bitcoin.  

There are a lot of places I like, but I like New Orleans better. - Bob Dylan

Sure, it's hot in the summer and we have storms but you can't beat the culture and community. I've lived a lot of places and when I moved to New Orleans 7 years ago it immediately became my forever home.

@David H. Do yo know if you can apply for the SBA EIDL per property even if they are under one LLC?

Anyone interested in and 8-plex in Mobile, AL? No section 8. Pretty good area.